The largest Chinese state-owned telecommunications company China Telecom and the Conflux Network project announced the launch of a pilot program for the issuance of blockchain-enabled SIM cards (BSIM) in Hong Kong.

The project, which promises to be the largest blockchain hardware product in the world, should be launched before the end of the year, Conflux promises. The SIM card will be able to store the user’s public and private keys, helping to manage them. Also, with the help of BSIM, it will be possible to safely use digital signatures without disclosing them, the developers promise.

Shortly after the announcement of China Telecom’s partnership with Conflux, the startup’s native token, CFX, surged 109.1% in a day, according to data from CoinGecko.

China Telecom is the largest telephone operator in the PRC and the third largest mobile operator with over 372 million subscribers.

Conflux startup was founded in 2018. He managed to raise $35 million from Chinese investors, which included Sequoia China, Huobi Group, Shunwei Capital and Rong360.

In 2021, the Shanghai Science and Technology Committee and the Changning District government awarded Conflux a $5 million grant to develop cutting-edge technologies.